Top Israeli officials have been linked to Britainâ€™s biggest ever jewelry heist, in which gems worth up to $65 million (Â£40m) were stolen.

According to an Israeli report, three former senior officials in the Israeli army were the main shareholders of the company responsible for guarding the Graff Diamond jewelers in central London, where the robbery took place. The Universe Security Group (USG) has been in charge of the security of the store, after a group of Balkan robbers–dubbed the Pink Panther gang–carried out an armed raid on the same store in May 2005, taking off with 1 million pounds worth of diamonds.

Nahum Admoni, former Mossad chief and Maj. Gen. Uri Sagie, former chief of intelligence in the Israeli army, reportedly resigned from the leadership of the London-based group, just two months before the heist.

Another primary share holder of the security company is Israeli Prime Minister Benjamin Netanyahuâ€™s special adviser, Isaac Molho.

The police have meanwhile arrested a 50-year-old man in connection with the robbery, but only described him as a â€˜minor playerâ€™ in the act.

The August 6 raid, which had all the makings of a blockbuster movie, was carried out by two smartly dressed men, who had disguised themselves professionally with make-up layered on latex masks, Metropolitan Police footage showed.

In just minutes, the leading men drew handguns, grabbed a female member of staff and headed for the exit with 43 pieces of jewelry including rings, bracelets, necklaces and watches.

They fired warning shots, jumped into a waiting blue BMW and abandoned their hostage, speeding through Mayfair. No one was injured in the incident.

An international man hunt has been in progress ever since, with insurers offering a 1 million-pound reward for information leading to the capture of the thieves and the recovery of the jewels.